Rule 33A: MCA inserts New Rule for allotment of new name to Existing Company

First Notification MCA vide notification dated 22nd July, 2021 has commenced the provisions of Section 4 of Companies (Amendment) Act, 2020 which shall come into...

New Penalty provision under section 270A |A blessing in disguise?

Penalty on Concealment of particulars of income or furnishing inaccurate particulars of income has always been a matter of litigation between the department and...

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Overview Video on “Vivad Se Vishwas” Scheme as announced in Budget 2020

The Direct Tax Vivad se Vishwas Bill, 2020 (the scheme), tabled in Parliament on February 5, 2020, proposes an amnesty scheme for litigation pending...

Can Taxpayer opt for Vivad se Vishwas Scheme in case an enhancement notice is issued by CIT(A)

According to the Finance Minister, at present there are as many as 4,83,000 direct tax cases pending in various appellate forums i.e. Commissioner (Appeals),...

No Penalty u/s 271(1)(c) can be imposed on estimated additions

At times additions are made by Income Tax Department on estimated basis without having any clear evidence or iota of evidence on record to...

No Opportunity of Cross-Examination under Income Tax Litigations

No Opportunity of Cross-Examination under Income Tax Litigations In law, cross-examination is the interrogation of a witness called by one’s opponent. Section 138 of the...

Submission in cases of Alleged Bogus Purchases

In many instances, there are allegations from Income Tax Department that the tax payer has made BOGUS PURCHASES in order to reduce the Income...

Streedhan, Pin Money and NRI Savings during Demonetization period.

When PM Modi announced that Rs with the denomination of 500/- and 1000/- would cease to be the legal tender from 9th of Nov,...

Full ITC cannot be availed when payment is netted off against receivables for the supplies made between Branch and HO

Authority for Advance Ruling (AAR Tamilnadu) pronounced in case of M/s. Sanghvi Movers Ltd. that full ITC cannot be availed by registered branch office for...

Is the present State of Economy manmade or Natural ?

If the whole world is looking upto India as their prospective market, then how can our Indian economy crash?Is the slow down of economy...

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